Week 2 – Vancouver Real Estate Week in Review (January 9th, 2022 - January 16th, 2022)

The Vancouver real estate market saw some signs of life return in the last week (Week 2 - January 9th - 16th, 2022).

Market activity is still subdued relative to "normal" but things are very quickly picking up after the holiday season.

Sales jumped to 147 from 97 the week before. New listings also continued to increase up to 272 (from 238).

Total active listings also edged higher to 2,222 (from 2,171).

The strong demand and limited supply moved us very quickly back into a seller's market. The months-of-inventory fell down to 3.78 (under 4 being a seller's market).

The strongest sub-markets were East Van Townhouses (a white-hot 1.31 MO) and East Van condos (2.67 MOI). Downtown condos saw a big jump in demand with MOI falling to 3.33 (from 5.5 the week before).

Our weakest sub-market was Westside houses (6.63 MOI). And while that market was still in buyer's market territory it has seen some of the most significant strengthening of any sub-market in the past two weeks...moving from 23.15 MOI -> 11.9 MOI and now to 6.63 MOI.

I think the speed with which our market moved back into a seller's market (we spent just two weeks - the slowest two weeks of the year - outside of that zone) indicates just how strong Vancouver's real estate market is right now.

There is simply no let up. No sign that demand is falling off...and no sign at all that more supply is on it's way.

So long as that pattern continues, there will be strong pressure increasing the cost of housing across the city.

Vancouver West (Westside)

East Vancouver (East Van)

Downtown Vancouver